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[China-Venezuela Joint Fund] Chinese financing for construction of Los Teques and Caracas Metro Lines in Venezuela (Linked to Record ID#58677)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Venezuela |
| Country | Venezuela |
| Start Date | Jan 01, 2011 |
| End Date | Oct 10, 2032 |
| Duration | 7,953 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 37289 |
Grant Description
[China-Venezuela Joint Fund] Chinese financing for construction of Los Teques and Caracas Metro Lines in Venezuela In 2011, Venezuela’s government dedicated 255.7 million USD of the 2 billion funds through the Fondo Pesado to finishing implementation of the Metro of Caracas and the Los Teques Metro.
The government planned to complete Line 2 (Los Teques Metro) in 2015. The Los Teques Metro system connects Los Teques to the capital of Caracas. In addition to that, the Metro de Los Teques is operated by Metro de Caracas as an extension of the latter. The first line runs for 11.2km while the newer second line runs for 12km.
Los Teques Metro has a daily ridership of 42,000. The second line has been operational since 2015.
In April 2017, Alstom, a French manufacturer in passenger transportation, delivered the last of 22 metropolis trainsets--of 6 cars each-- to the Los Teques Metro. The first stage of Caracas Metro's Line 5 was opened on November 3, 2015. It runs a total of 1.5 km from the Zona Rental station all the way to the Bello Monte station.
Line 5 is expected to have a daily ridership of 245,000.
The China-Venezuela Joint Fund receives contributions from China Development Bank and FONDEN, and it is administered by BANDES. See Record ID#58677 for more information on the fund. The first commitment to this fund was made in 2007.
Staff Comments
The flow type is unclear, however, the Chinese part of the fund is financed by a loan, so the same is assumed here. The transaction amounts for all sub-projects are accounted for in the projects for the three tranches and their renewals. Because it is unclear how much funding for each project is from the Chinese side and it is unclear which tranche is funding each sub-project, the transaction amounts should not be recorded until this information is known.
Sources & References
- Presidente Hugo Chávez afirma que meta de recaudación fue superada ampliamente
- Venezuela: línea 5 y 2 del Metro recibirán más de US$250M en 2012
- Venezuela y China aprueban 6.000 mil millones de dólares para el fondo bilateral
- Alstom delivers the last metro to Los Teques
- Venezuela
- Los Teques Metro
- Line 5 - Metro de Caracas
- Caracas
- Gaceta Oficial de la Republica Bolivariana de Venezuela
- China-Venezuela Economic Relations: Hedging Venezuelan Bets with Chinese Characteristics
- Financiamientos desde el Fondo Conjunto Chino-Venezolano Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Government of Venezuela
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